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Flight Centre Limited is an Australia’s Largest Travel Company and is listed on the ASX. The company has more than 2500 operating stores in over 10 different countries and recruits over 15000 staff. The company has emerged strongly on the grounds of being a single store into a multibillion dollar MNC. The company reported $13.2 Billion dollar sales for the period ending June 2012.
The company is well poised currently. The company in its recent annual report for the year 2012 reported new profit and sales which were higher than the previous year figure. The sales have increased thrice whereas the net profit figures have crossed the $200 Million mark. This is good for the company as far as the operations of the company are considered. The company is growing well on the grounds of operational efficiency where the corporate division of the company segments performs well and other segments as well delivering significant results. The company in the year 2012 also restructured its operations in the Europe, Middle East and Africa into two regions each with its own leader.
Looking at the corporate governance system and the corporate social responsibility of the company, the company treads on the path of proper governance system. It promotes ethical practices within the organization and also works for the society. The company works respectively towards the competitors, customers and the community as well. The values that the company sets out in its employees are that of honesty, integrity and fairness. These values are inculcated and integrated into a system of code of conduct which is mandatory on all of the members of the company. There is safeguarding of interest of the financial reporting users by the audit committee which ensures fairness in reporting and also checks the functions and scope of the audit member. The committee works towards the fairness of the company reporting and thus it ensures that fair dealing is incorporated.
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